michaelstoen
Short

Descending Triangle

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Disregarding the wicks on the daily, this looks like a descending triangle , which in combination with the clear Head and Shoulders formation suggests strongly that we are headed down to one of the two support lines.

Plan is to go short if daily candle closes under 13000.

(amateur trader, happy for feedback and constructive criticism)
Taking the bottom wicks into account however this would looks more like a giant wedge, which in combination with the previous uptrend looks like a huge bull flag, suggesting a massive move upwards.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out